Cart: Discussion for the 2003 season.

[TheRob]

Paul Tracy won the Molson Indy Toronto yesterday in dominating fashion. Wire to wire and at one point led by 35 seconds. Simply amazing. That just doesn't happen in Cart.

Now let's review. A European won the two races over there. A Canadian has just dominated the first race in Canada. Now if Carpentier or Tagliani win in Montreal or Vancouver then we'll know something is up. Look for one of the Mexicans to win in Mexico City in September.

 

[TheRob]

Tracy is the shnizzle!

Something is up.

Junquiera is told to move over for jumping the start and then Tracy speeds off too victory.

I thought the officials made the right call. Junky was about three car lengths ahead of Tracy when the green dropped. Tracy had the fastest car easily anyway, and probably would have gotten by him eventually.

Pretty boring race. You expect that in Vancouver though. Not much room and nowhere to really pass. After the first lengthy caution there was a lot of action though. Some close fighting and good racing.

Tag was taken out by a plumber who was three laps down at the time. He tried to pass Tag in the Science World chicane. Not a good idea. Why is a guy three laps down even thinking of passing the car in third? Carpentier was also taken out by a guy three laps down. They were at turn six though. Same thing. Why bother?

Oh well. Another succesful year. About 160,000 attended over the weekend. They should race in all the large Canadian markets. The last year on the contract is next year. Hopefully it'll be back.

 

[Keeper]

Re: Tracy is the shnizzle!

Originally posted by TheRob
Pretty boring race. You expect that in Vancouver though. Not much room and nowhere to really pass. After the first lengthy caution there was a lot of action though. Some close fighting and good racing.

I missed the race . . . so which was it: a boring action packed race or an action packed boring race?

I was disapointed that I had to miss it -- equally as much that Carpentier was knocked out. Something about that Carpentier-kid that seems like he's underrated. One of these days he'll start pulling out wins.

Between watching it live and wakeboarding and seeing highlights . . . well, I'll go with the highlights.

 

[Argyle]

CART announces major losses

Canadian Press

8/12/2003

INDIANAPOLIS (CP) - CART lost $43 million US in the first six months of this year, the racing circuit announced Tuesday.
Championship Auto Racing Teams also reiterated a warning made last month that it needs additional capital to complete the 2004 season and that projections beyond 2004 were ``highly speculative.''
CART said in a statement it is reviewing its schedule of its events and implementing a plan to slash operating expenses for 2004.
It will also introduce a new marketing and sales strategy aimed at increasing corporate sponsorships of its races. It is reviewing its television arrangements beyond its relationship with CBS.
CART said it lost $34.5 million in the second quarter, or $2.34 per share in the publicly traded company, compared to a loss of $3.7 million or 25 cents per share in the same 2002 period.
Revenues in the quarter totalled $14.4 million, down from $19.3 million in the same 2002 quarter.
For the first six months of 2003, CART lost $43.5 million, compared to a smaller loss of $5.2 million in the first half of 2002. Overall revenue reached $20.6 million, down from $24.9 million.
Television revenue has fallen, while expenses have nearly doubled with CART promoting half of its own races.
CART has hired New York-based investing banking firm of Bear, Stearns & Co. Inc. to help its search for ways of attracting more financing and contemplate ``strategic alternatives'' for the struggling series.
``At this time, the company has not identified any source for this capital and there is not any assurance it could be raised,'' CART said in a statement. ``Projections beyond 2004 are, in management's view, very speculative.''
``There cannot be any assurance that this process will result in any transaction or as to the terms and conditions of any transaction that may be proposed to or pursued by the company,'' it added.
CART said it does not expect to have ``positive cash flow'' - a measure of a company's ability to adequately fund operations - any earlier than 2006.
An increase in corporate involvement, through sponsorships and television advertising, would help improve the profitability of CART's events, and reduce the racing series' reliance on self-promoted or co-promoted races, which reduce overall revenues.
``By limiting self-promoted events, CART can concentrate on bringing a quality product to the strong events that are currently on the CART Champ Car World Series calendar,'' the company said.
Of six races held in the second quarter - the three-month financial period that ended June 30 - CART had six events, three of them were self-promoted, resulting in a net loss on its races of more than $5 million in that period.
Molson sponsors the three events on the Canadian circuit, all three of which do extremely well. The Toronto and Vancouver races are already in the books this year with the Montreal event slated for Aug. 24

And they want someone to buy into this series? Sounds like a money making venture!

 

[Argyle]

I guess someone has got money...

ESPN said on its Web site earlier Tuesday that CART team owners Gerry Forsythe, Paul Gentilozzi, Paul Newman and Kevin Kalkhoven are ``expected to buy CART's remaining public shares and take it private within the next few days.''
CART spokesman Adam Saal said he had no comment on any possible move to buy the public company and take it private.
``As we have stated in our financial guidance issued in June and a further update last month, the company has committed to exploring strategic alternatives and additional sources of financing,'' he said. ``Further statements would be inappropriate.''
None of the four team owners mentioned could be reached for comment Tuesday, but Gentilozzi told The Associated Press in a recent interview: ``We're not talking, and we shouldn't. I read all the papers and there isn't anybody who is quoted in there that knows a thing about what is going on.''
Gentilozzi, a two-time Trans-Am driving champion and longtime team owner, said he is looking at the possibility of buying the sedan series and pairing it with CART in the future to add to the racing entertainment value of both series.
``I'm trying hard to make the right plan in Trans-Am,'' Gentilozzi said. ``It's very close to my heart. I love the series and the cars and I'm trying to make it fit and work for Paul Gentilozzi with Trans-Am and CART.

 

[Argyle]

If CART does go under...

Tracy to try his luck on NASCAR circuit?

Paul Tracy would have no problem fitting into the NASCAR environment.
NASCAR team owner Richard Childress is reportedly interested in hiring CART series leader Paul Tracy of Toronto for next year.
"He's a card on the table," Childress told the Winston-Salem Journal recently.
The decision may not lie with Tracy, who has six CART victories this year with the Player's-Forsythe team.
Player's must pull out of CART racing in October under federal anti-tobacco legislation, but both Tracy and teammate Patrick Carpentier of Joliette, Que., remain under contract to team co-owner Gerry Forsythe through next year.
"It's up to Gerry to decide whether he wants to sell (the contract) or not," said Player's team spokesman Francois Cartier.
Childress is said to like aggressive, risk-taking drivers like Tracy. He already has drivers Robby Gordon and Kevin Harvick under contract for next year, but is reportedly looking to replace third driver Steve Park.

I would love to see him in the NASCAR series...it really suits his agressive style

 

[Argyle]

CART owners submit purchase offer

TSN.ca Staff
8/18/2003

CART officials say they have recieved an offer to buy the financially troubled open-wheel series.

According to a statement released Monday, a proposal from Open Wheel Racing Series has been submitted but CART officials declined to sign the letter of intent to purchase all outstanding shares at 50-cents a share.
That would make the purchase price $7.4-million US, which is well below the $27-million US the company is valued at based on the current stock price of $1.87.
Instead, CART is now in talks with Open Wheel about a possible takeover.
Open Wheel Racing Series is a newly formed company led by current CART owners Gerald Forsythe of Player's/Forsythe Racing; Kevin Kalkhoven, co-owner of PK Racing; Paul Gentilozzi of Rocketsports Racing; Carl Russo, who owns the Toyota-Atlantic feeder series and Motorock LLC, a concert promotions company.
Formula One boss Bernie Ecclestone, who has been mentioned as a possible investor for CART, is not involved with the current group.
The group currently control more than 3.3-million shares of CART stock and are looking to purchase the remaining shares in order to take the company private once again.
"There cannot be any assurance that the discussions with the group of investors described above will result in any transaction," CART said in its statement.
CART recently retained the services of investment banking firm Bears, Stearns and Co. to seek potential buyers for the series, which recently admitted that it does not have the financial resources to compete beyond 2003.

 

[Argyle]

Bourdais!!!

Tough start to the race for PT. The first try at the start was waved off because Bourdais was blocking. The second try, Tracey got past Bourdais, only to have him punt him off the course through the first chican. Guess that is racing!

 

[Argyle]

Congratulations Paul Tracey!!!

A very bizzare race, but PT was able to clinch the 2003 CART title after Junquira plowed into the wall. From sun to rain to hail to a red flag to rain to sun again. Exciting racing from Surfers Paridise.
The season ending race is next week in Fontana. Should be quite the Team Players party going on tonight.